„Banking Union Weakens Central Banks“

People ♦ Published: October 30, 2012; 19:52 ♦ (Vindobona)

The Czech President Vaclav Klaus criticizes that a common banking supervision limits the competencies of national central banks.

„Banking Union Weakens Central Banks“ / Picture: © Wikipedia / Che

Together with CNB´s Vice Governor Vladimir Tomsik, Klaus explained that the banking union is be counterproductive. „A banking union is a nonsense.“ Klaus says. The only reason for the banking union would be to withdraw powers from national central banks, the Czech President stressed. The power should be surrendered to ECB. Tomsik underlines that the situation of the national…